Company: ABC Leisure Group, Springwood Haven Leisure
UK & International Business Sales and M&A News
Springwood Haven Marina Freehold has been purchased by ABC Leisure Group for an undisclosed sum.
Specialist agency First Peninsula Marine handled the valuation and sale of the marina freehold, boatyard and chandlery businesses.
The Warwickshire inland waterways business offers a range of chandlery, vessel repair and maintenance services, fuel and pump-out facilities, visitor moorings and permanent marina berths.
Situated in a central ‘Heart of England’ location north west of Nuneaton on the Coventry Canal, the purpose-built marina includes a visitor reception, chandlery, offices and stores, as well as a workshop, slipway, two enclosed wet docks and circa 60 marina moorings.
The canalside wharf offers additional visitor moorings and vessel support services.
It was established in 1998 by Adrian and Kay Wagstaff, and has been owned and operated by them ever since. They are now planning their retirement, and are looking to travel with the Dutch barge they built themselves.
Adrian Wagstaff commented:
“We built the marina and initially concentrated on boat building before moving into repairs and repainting services.
“ABC Leisure Group has a wealth of experience in marinas, and I’m sure they will develop the business further and move it forward successfully.
“Sean McQuitty from First Peninsula Marine was fantastic. He supported us through the whole process and we are so grateful for his expertise.”
Adrian Wagstaff - Founder of Springwood Haven Boatyard and Chandlery
ABC Leisure Group Limited has been building and operating a hire fleet and providing full marina services to canal users for over 45 years. It owns and operates 14 marinas and a boat building operation.
Carl Onens, Managing Director of ABC Leisure Group, believes the acquisition will be a positive move in the growth of the business.
He said:
“We want to continue to develop the success that Adrian and Kay built during their tenure at Springwood Haven. The business fits into the current model of marinas that ABC Leisure already runs, and we are pleased to have a presence in a new area geographically.
“It is our aim to develop enhanced services to their existing customers, and we are planning a programme of capital investments for the future.”
Carl Onens – Managing Director of ABC Leisure Group
Deal Summary
- Guide Price: £1,500,000
- Financials: Undisclosed
- Transaction Structure: Acquisition of 100% of Share Capital in Springwood Haven Leisure Limited together with the freehold interests in marina, land and buildings by ABC Leisure Group Limited
- Advisors to ABC Leisure Group: HCB Solicitors / Ormerod Rutter Accountants
- Advisors to Springwood Haven Leisure: First Peninsula Marine / Windeattes Solicitors
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